Zacks: Analysts Anticipate Casa Systems (CASA) to Announce $0.21 EPS

Wall Street analysts expect that Casa Systems (NASDAQ:CASA) will report earnings per share of $0.21 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Casa Systems’ earnings. The highest EPS estimate is $0.22 and the lowest is $0.20. The business is expected to issue its next earnings results on Tuesday, June 5th.

According to Zacks, analysts expect that Casa Systems will report full-year earnings of $1.17 per share for the current financial year, with EPS estimates ranging from $1.14 to $1.19. For the next financial year, analysts forecast that the business will post earnings of $1.39 per share, with EPS estimates ranging from $1.30 to $1.50. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Casa Systems.

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A number of equities research analysts have commented on the company. William Blair assumed coverage on Casa Systems in a research note on Tuesday, January 9th. They issued an “outperform” rating for the company. Macquarie assumed coverage on Casa Systems in a research note on Wednesday, January 10th. They issued an “outperform” rating and a $24.00 price objective for the company. Stifel Nicolaus raised their price objective on Casa Systems from $23.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, March 7th. Morgan Stanley restated an “equal weight” rating and issued a $23.00 price objective (up from $21.00) on shares of Casa Systems in a research note on Wednesday, March 7th. Finally, Barclays assumed coverage on Casa Systems in a research note on Tuesday, January 9th. They issued an “equal weight” rating and a $17.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Casa Systems presently has an average rating of “Buy” and an average price target of $25.71.

Casa Systems stock traded up $2.06 during midday trading on Wednesday, reaching $29.57. The company’s stock had a trading volume of 164,511 shares, compared to its average volume of 574,573. The company has a debt-to-equity ratio of 5.89, a quick ratio of 3.87 and a current ratio of 4.23. Casa Systems has a 52-week low of $13.25 and a 52-week high of $34.21. The stock has a market cap of $2,244.27 and a PE ratio of 34.82.

Large investors have recently made changes to their positions in the company. Gilder Gagnon Howe & Co. LLC purchased a new position in shares of Casa Systems in the fourth quarter worth about $232,000. Wolverine Asset Management LLC purchased a new position in shares of Casa Systems in the fourth quarter worth about $266,000. Needham Investment Management LLC purchased a new position in shares of Casa Systems in the fourth quarter worth about $375,000. Quad Capital Management Advisors LLC purchased a new position in shares of Casa Systems in the fourth quarter worth about $408,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Casa Systems in the fourth quarter worth about $583,000. Hedge funds and other institutional investors own 54.32% of the company’s stock.

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Casa Systems Company Profile

Casa Systems, Inc provides software-centric broadband products in North America, Latin America, Europe, the Middle East, Africa, and Asia-Pacific. The company offers converged cable access platform solutions that allow cable service providers to deliver voice, video, and data services over a single platform at multi-gigabit speeds.

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